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Gulf

GCC Hails Saudi Arabia's Pivotal Role in Success of Arab Summit

General view of the Arab League Summit in Jeddah, Saudi Arabia, May 19, 2023. (Saudi Royal Court/Handout via Reuters)
General view of the Arab League Summit in Jeddah, Saudi Arabia, May 19, 2023. (Saudi Royal Court/Handout via Reuters)
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GCC Hails Saudi Arabia's Pivotal Role in Success of Arab Summit

General view of the Arab League Summit in Jeddah, Saudi Arabia, May 19, 2023. (Saudi Royal Court/Handout via Reuters)
General view of the Arab League Summit in Jeddah, Saudi Arabia, May 19, 2023. (Saudi Royal Court/Handout via Reuters)

Gulf Cooperation Council (GCC) Secretary General Jasem Mohamed Albudaiwi hailed on Friday the success of the 32nd Arab Summit that was held in the Saudi coastal city of Jeddah.

In a statement, he highlighted the pivotal role played by Saudi Arabia and the Arab League in the success of the summit and its positive outcomes for Arab countries.

He expressed his gratitude to Custodian of the Two Holy Mosques King Salman bin Abdulaziz and Prince Mohammed bin Salman, Crown Prince and Prime Minister, for their efforts and full support in ensuring the summit was a success.

He noted that the event was held amid critical circumstances with leaders meeting to discuss important issues and mechanisms to bolster regional cooperation.

Albudaiwi added that the summit is an essential platform for consultation and cooperation among Arab countries and an opportunity to discuss issues of mutual concern among member states.

The success of the summit boosts the Arab world’s ability to address future challenges and achieve sustainable development and prosperity for their people, he remarked.

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Gulf

Saudi Arabia and Egypt Discuss Developments in Iran, Palestine and Sudan

Meeting between bin Farhan and Abdelatty in Cairo last June (Ministry of Foreign Affairs Facebook page)
Meeting between bin Farhan and Abdelatty in Cairo last June (Ministry of Foreign Affairs Facebook page)
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Saudi Arabia and Egypt Discuss Developments in Iran, Palestine and Sudan

Meeting between bin Farhan and Abdelatty in Cairo last June (Ministry of Foreign Affairs Facebook page)
Meeting between bin Farhan and Abdelatty in Cairo last June (Ministry of Foreign Affairs Facebook page)

Saudi Arabia and Egypt discussed developments across the region. Egyptian Foreign Minister Badr Abdelatty said he discussed with his Saudi counterpart, Prince Faisal bin Farhan, in a phone call ways to further strengthen bilateral relations.

“We exchanged views on a number of regional issues, particularly developments in Iran, Palestine and Sudan,” Abdelatty said.

In a post on his official X account on Friday, Abdelatty said he also discussed with Prince Faisal “the distinguished fraternal ties between the two countries.”

The Saudi and Egyptian foreign ministers also spoke by phone in mid-August. At the time, they praised the “depth and distinctive nature of the fraternal and strategic ties between the two countries” and reaffirmed their shared commitment to further advancing bilateral cooperation across various fields.

The ministers also discussed the intensive efforts by regional partners, including Saudi Arabia and Egypt, to de-escalate tensions and contain instability across the region. They stressed “the importance of addressing existing regional security concerns, respecting the sovereignty of states and refraining from acts of aggression against them, and preventing the conflict from expanding.”

They also emphasized the importance of ensuring the security, safety and freedom of navigation along international waterways.

In June, bin Farhan and Abdelatty met in Cairo to discuss ways to strengthen bilateral relations across various fields. The two ministers praised the continued momentum in Egyptian-Saudi relations and their close coordination, reaffirming their commitment to expanding cooperation in ways that serve the shared interests of the two countries and their peoples.

At the time, the ministers also reaffirmed their commitment to continued coordination and consultation on developments across the region.

Gulf

Saudi Arabia Chairs 118th Session of the Arab League’s Economic and Social Council

Arab League foreign ministers meet during an annual meeting in Cairo, Egypt. File/AP
Arab League foreign ministers meet during an annual meeting in Cairo, Egypt. File/AP
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Saudi Arabia Chairs 118th Session of the Arab League’s Economic and Social Council

Arab League foreign ministers meet during an annual meeting in Cairo, Egypt. File/AP
Arab League foreign ministers meet during an annual meeting in Cairo, Egypt. File/AP

The Economic and Social Council of the League of Arab States held its 118th ministerial session on Thursday under the chairmanship of the Kingdom of Saudi Arabia, the Saudi Press Agency reported.

Saudi Assistant Minister of Finance for Macro-Fiscal Policies and International Relations Eng. Abdullah bin Zaraah presided over the session at the League’s General Secretariat headquarters in Cairo, with representatives of member states participating.

The meeting addressed several economic and social issues of common Arab interest as part of efforts to enhance cooperation among member states, support development, promote intra-Arab trade, and expand opportunities for regional integration and growth.

In the Kingdom's statement, bin Zaraah affirmed that joint Arab economic and social action is a key pillar for strengthening collective capacity to address challenges and capitalize on opportunities.

He stressed the importance of moving beyond coordination and the exchange of views toward implementation and tangible results by strengthening implementation and follow-up mechanisms, and linking decisions and initiatives to clear objectives and measurable indicators.

He also called for enhanced coordination among institutions of joint Arab action and specialized Arab organizations, while directing resources and capabilities toward the highest-impact priorities.

He also highlighted the Kingdom's national achievements, noting that the World Bank Group's World Development Report 2026 ranked the Kingdom among the world's top 10 countries in private investment in artificial intelligence and recognized its advanced position in the global AI landscape.

Gulf

Saudi Arabia Offers Yemen’s Central Bank New Support to Bolster Economic Stability

The Central Bank of Yemen in the interim capital Aden. (Government media)
The Central Bank of Yemen in the interim capital Aden. (Government media)
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Saudi Arabia Offers Yemen’s Central Bank New Support to Bolster Economic Stability

The Central Bank of Yemen in the interim capital Aden. (Government media)
The Central Bank of Yemen in the interim capital Aden. (Government media)

Saudi Arabia has provided new support to the Central Bank of Yemen as part of its ongoing efforts to stabilize the country's economy and financial sector, following directives from the Kingdom's leadership.

The Saudi Development and Reconstruction Program for Yemen (SDRPY) said the assistance aims to strengthen economic, financial, and monetary stability. It is also designed to build the capacity of government institutions while improving governance and transparency.

The support further aims to enable the private sector to contribute to sustainable economic growth, create job opportunities, and drive socio-economic development.

The SDRPY noted that this assistance will contribute to boosting purchasing power, improving living standards, and stimulating commercial activity. Additionally, it aims to create an environment conducive to sustainable economic recovery and development in Yemen.

The new support builds on Saudi Arabia's continuous economic and developmental assistance to Yemen. In February, the Kingdom provided 1.3 billion riyals to support the Yemeni budget for operational expenses and salaries, followed by another installment of over 224 million riyals in June for the same purpose.

The SDRPY, established in 2018, implements projects and initiatives across various development sectors, in addition to providing institutional and technical support to build the capacity of Yemeni government institutions.